If you’ve never built a team before, or if you’re thinking of building or reshaping your team, you need to listen to this week’s episode of The Flip King CEO. Joe Evangelisti breaks down accountability charts, a key tool for businesses so everyone is on the same page. The chart shows that everyone on a team has a certain process or activity they are responsible for, and a certain key performance indicator (KPI) that they have to bring to the team. If you’ve never heard of an accountability chart, or you’re not quite sure if they’re right for you, you need to listen to this week’s episode.
As Joe says on this episode of The Flip King CEO, an accountability chart is not simply an org chart, showing a “chain of command” within the company. While there will, of course, be people at the top (maybe that’s you as the CEO of your business), it’s not built to simply show who answers to whom. But the chart isn’t about showing who’s at the bottom or at the top, it’s about showing them they are responsible for something important, imbuing them with a sense of purpose and contribution. Ideally, the accountability chart will have some sort of metric to show just how much each person is contributing to the team. Really, this is a must for any team, and Joe breaks down a basic chart and the one he uses for his team on this episode.
A very simple accountability chart will have the CEO or visionary at the top, to provide the vision for the company. Below her or him will be the COO, who’s actually implementing and managing all of the systems to achieve that vision. Below every COO will be a finance wing, an operations wing, and a marketing and sales wing. Almost every company will break down into these three components. That doesn’t mean you have to have people filling up each wing: Your CPA could be your finance team if you’re still a small operation. You might even be the one person in all of the boxes for now. What’s important here is to visualize how your team would work, and Joe helps you do that this week.
One of the things you need to think about when you’re hiring someone for your team, or moving someone into a new position, is the acronym GWC: Gets it, wants it, and has the capacity to do it. It’s not just a buzzword, it’s actually a way to hire and review employees. And GWC is a two-way street, sometimes people get it and want it, but don’t have the capacity. Sometimes people get it and have the capacity, but don’t want it. So being able to look at a team member through the GWC lens is actually a huge help to business owners, and Joe breaks it down even further on this week’s Flip King CEO.
If you want to grow your business, you have to envision what it’s going to look like. And even if you’re the only employee right now, you need to draw out what you think your business should be. And then you can take that, look at where you are weakest, and immediately identify your first hire. The accountability chart is such a crucial tool for visualizing and mapping your company, and for understanding how each and every team member is contributing to the business as a whole. If you’re even thinking of expanding your team, you can’t miss this episode of The Flip King CEO.
As today’s episode of The Flip King CEO begins, Joe Evangelisti finds himself in a reflective mood. As he says, before sitting down to record, he had to attend a funeral that moment. And while many entrepreneurs and small business owners spend seven days a week trying to build their business and make a better life, often they don’t have the time to sit and enjoy their accomplishments. That time when you can take a breath, pat yourself on the back, that may never come. Or if it does come, then it’s so short-lived that you forget about it as you move to the next thing. On today’s episode, Joe talks about taking a moment to enjoy what you’re doing, and how far you’ve come, and if you haven’t done that in a while, you need to hear this.
As Joe says on this episode of The Flip King CEO, no matter what level you’re at right now, whether you’re working an hourly job or you’ve made your first million, you’re always going to struggle with how to find quality time with your family, or extra time for something you want to do. He tells a story about a multi-millionaire at a recent mastermind group who, despite being semi-retired, was still struggling with what quality time means for him and his family. We have to define what “quality time” or “enjoyment” of your time means, and then go after that. And that’s what Joe tackles in this episode.
This may seem somewhat counterintuitive, but you need to schedule opportunities to stop, enjoy and reflect. One way to do that is to conduct reviews with your employees. On this episode of The Flip King CEO, Joe says this is the number one thing he sees CEOs missing out on as they try to improve their business. Stopping and asking good questions and enjoying the company of the people in your company is so important. You may think your employees are afraid of getting a review, but the fact is that a review should be a positive thing. It should be an opportunity for your employee to speak their mind, and learn and grow. And then that becomes an opportunity for you to reflect, as well.
You need to schedule activities that will help you and your leadership grow. That can be something as simple as watching visionary videos, or as intensive as going on a retreat. But you need to check in with your leadership team to see where they think the company needs to grow, and where they need to grow. Trainings are a great way to inject some enjoyment into your work and help your employees. And then finally, the last tip Joe supplies, is scheduling high-level meetings with people who can help your business grow. All of this means you have to actually schedule these activities, and on this episode of The Flip King CEO, Joe provides some tips on how to do just that.
As Joe says on this episode of the Flip King CEO, if you’re not working your schedule, you need to fix it. You may be used to using your Google Calendar for work, but you need to apply the same principles to your life at home. Block time for your family, block time for your significant other. Prioritize it and treat it the same way you would a business meeting. It can just be an hour or a half hour, but it will have a huge impact. As Joe says, “fires put themselves out,” and it’s important to unplug now and again to spend time with your family. Joe finishes up the episode talking about how to “enjoy every step” in your business and in your life, and you’ll want to tune in to hear his advice.
On today’s episode of The Flip King CEO, Joe Evangelisti talks with his friend Mark Evans about passive income and all of the misunderstandings that surround it. As Mark says right at the outset, sometimes it’s easier to start generating passive income when you have less money, because you have less invested elsewhere. There are a lot of myths about passive income, and a lot of cynicism surrounding it, and on today’s episode, Joe and Mark cut through the nonsense and talk straight about what passive income is and what it can mean for you.
As Joe says on this episode of The Flip King CEO, everyone is good at working for money. You get up, you go to work, you make money. But what about making money work for you? What about spending an hour a day to learn how to make money grow for you? It could be something as simple as a savings account, but you have to have the mindset about how to get money to work for you. This is true for people who own successful businesses or people just starting out. Even if your business is already growing, it can be easy to forget passive income, because you’re so busy pouring money to fuel that growth. If you’re living out of your business checkbook, then you need to listen to this week’s episode.
Joe and Mark share a lot of amazing insights in this episode, but one of the most resonant was Mark’s analogy of thinking of passive income like a farmer. You have to tend to it, and you have to harvest it. You can’t just let the crop sit there and do nothing. Use that money, invest it, create more passive income if you want. But just because it’s called passive income, it doesn’t mean you are passive with it.
You can always create a side hustle. And that side hustle can make you money, but until you take advantage of all of the opportunities for automation, you’ll never truly have passive income from it. As Joe says, the ultimate goal is to be able to walk away from it and have it still generate you income. There are a lot of opportunities, such as leveraging virtual assistants, that you can automate work and give yourself a way out. There is an infinite amount of ways you could start your side hustle, and then there are new tools popping up every day that will help you get it to the next level.
As Mark says in this episode: Build a business that creates jobs. You don’t want to just have a company where you’re doing everything, you’re putting out all of the fires, and you’re making good money but you’re running yourself ragged. So many people start a business, then when it grows, they’re afraid to hire. The wealthiest people in this country have multiple streams of income, and it’s not because they work multiple jobs, it’s because they’ve built companies, built income streams, and then moved on and built the next thing. If you’re looking at your future, and you want to get moving on creating passive income streams, you need to listen to this episode.
On today’s episode of The Flip King CEO, Joe Evangelisti invites his good friend Matt Garabedian onto the show. Matt and Joe both work in real estate, and have both made the move to becoming CEO, where they’re out of the day-to-day grind of their companies and are now focused on strategy and growth. And they’ve reached that level by, as Joe says, harnessing and leveraging the power of people. On this episode, they talk about how to connect with people you can help and who can eventually help you. If you find yourself ready to take that next step, this episode will give you the motivation and the advice to make it happen.
As Joe says, if you’re still doing the day-to-day tasks of your business, then the people who work for you are “looking up, and wondering who’s up there?” Both Joe and Matt stress the need for a company to have a visionary, someone who is always identifying the direction the company needs to go. As Matt says, “Be the magician, not the mule.” In other words, don’t saddle yourself with a thousand things to do and slog up the mountain. Instead, hire the right people to do what they’re best at, and free up yourself to work your magic. How do you do that? You’ll have to listen to Joe and Matt’s deep dive to find out.
Joe talks about the need to build “power partners.” He defines power partners as people related to your industry. In the real estate world, that might mean estate attorneys or insurance providers, but however it relates to your business, it’s the people who work in your field but aren’t competitors. And you want to build relationships with those people, take them out for coffee, figure out what’s happening in their business and how you can help them. Joe recommends quick, 20-minute conversations, in which you figure out how you can help them, who you can connect them with, and what needs they have that you may be able to fulfill. And that’s just step one in building these partnerships.
You may not always be able to connect them directly with the specific people they’re trying to meet. But that doesn’t matter. What you’re trying to do is connect them with the type of people they’re trying to meet. And now what you’ve done is single-handedly started a new network. This idea is all about the long game: If they eventually do a deal with the person you’ve introduced, they’re going to think of you. If they meet someone you could do business with, they’re going to think of you. There are so many reasons why this simple technique could work for your business, and Joe and Matt break down each one for you in this episode of The Flip King CEO.
If all you’re doing with your business is looking to make deals, make money, get something from somebody, you’re never going to build meaningful relationships. What you need to do instead is figure out how to help others as part of your daily routine, and make strong connections. Matt tells a story in this episode of the Flip King CEO that’s the quintessential example of helping someone out because you know that relationship is going to be important. As Joe says, “When you first meet someone, refuse to talk about yourself.” If you find that you need to not just expand your network, but strengthen it, you need to listen to this week’s episode.